SPRY Therapeutics, an AI-driven physical therapy practice management platform, has secured $15 million (around Rs 126 crore) in funding from Flourish Ventures, Together Fund and Fidelity's Eight Roads and F-Prime Capital.
The latest fundraising brings SPRY's total funding to $25 million since its launch in 2021.
Founded by Brijraj Bhuptani, Ola's former chief technology officer and Riyaz Rehman, SPRY aims to redefine physical therapy (PT) practice management.
It offers a digital platform that helps physical therapists and clinic owners manage all aspects of their practice, including clinical functions like assessments and home exercise plans, as well as administrative tasks such as scheduling, patient intake and lifecycle management.
It plans to use the funding to fuel its rapid expansion across the United States. In 18 months, it has partnered with over 105 US-based clinics across 30 states.
"SPRY's billing-centric, full-stack platform uniquely addresses the complex business processes in PT clinics, offering a single solution for finance, operations, and patient success," said Kabir Kumar, partner at Flourish Ventures, adding that "SPRY's platform directly benefits North American physical therapists, from solo practitioners to larger clinics, by addressing the major hurdles of insurance reimbursements and cash flow management that often challenge these clinic owners."
Prior to this, the startup, in December 2021, had raised $3 million in its seed funding round led by Together Fund. FJ Labs, Pareto, Knowledge Capital, AngelList, Whiteboard Capital, Innovaccer, among others, also participated in the funding round.
It also raised $7 million in a Series A funding round led by Eight Roads Ventures, with participation from F-Prime Capital and existing investor, Together Fund.
"SPRY is transforming physical therapy with their AI-driven platform, streamlining clinic operations and improving patient outcomes. We're excited to support their mission to empower clinics and drive greater efficiency across the industry," said Manav Garg, co-founder and managing partner at Together Fund.